The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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The EUR/USD pair tried to rise during the Tuesday session, but as you can see failed to hang onto gains. The resulting candle ended up being fairly negative, and because of this I feel that this pair has a bit of weakness in the short-term coming, simply because the market had gone so far to the upside in such a short amount of time.
The WTI Crude Oil markets initially fell during the session on Tuesday, but as you can see found enough support to bounce and form a hammer. This hammer of course is a relatively strong looking candle, and as a result we think this market will continue to go higher, probably testing the $100 level in the short term.
The XAU/USD pair (Gold vs. the American dollar) closed yesterday's session with a loss as the American dollar gained some strength ahead of the outcome of the Federal Reserve policy meeting.
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Last week was a strong bullish reversal candle, closing close to its high which has already been broken this week.
According to the analysis of the AUD/USD and USD/CAD pairs, trader profited on a binary options platform.
The CAD/JPY pair went back and forth during the session on Monday, essentially settling nothing by the time the market closed.
The NZD/USD pair went back and forth during the session on Monday, essentially ending the session unchanged. We did break the top of the hammer from the Friday session though, and that of course is bullish.
The USD/CAD pair fell initially during the session on Monday, but as you can see bounced in order to form a hammer. This hammer of course signifies that the 1.04 level should offer support going forward.
The EUR/USD pair fell during the session on Monday, essentially stalling out yet again as the market has been so parabolic, and now we are starting to see it take a rest.
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The WTI Crude Oil markets rose during the session on Monday again, essentially confirming that the supportive hammer looks to be able to hold the market higher.
Gold prices (XAU/USD) settled slightly lower yesterday as investors took a cautious stance ahead of the U.S. Federal Reserve's monetary policy announcement.
According to the analysis of the NZD/USD pair and Crude Oil, trader profited on a binary options platform. See how here.
Check out the signal updates for the AUD/USD, EUR/USD, and GBP/USD pairs here.
End the month of October with this forecast of some of the major Forex pairs.
Last week was a slightly bearish doji, the most significant things about it were its high (at almost exactly the expected 1.6250 resistance level) and its close, which was just below the resistance level at 1.6177.